tv Markets Now FOX Business October 11, 2012 1:00pm-3:00pm EDT
one of the big stories from peter barnes is darrell issa from california is going to be holding hearings on a misprint on the job number this morning. labor department waiting in. a lot more coming up the next couple of hours of markets. laurie and melissa, busy hour. >> it is fantastic they look at the with the government is sitting on these jobs figures because we have the cut from the payroll's added number and this morning the initial jobless claims down from 30,000 because the state didn't report. and the forward revision is week after week and month after month. >> there has to be some sort of uniformity. lori: welcome to rockets -- lori rothman. melissa: the group's newest target and why these attacks can't be stopped. we know they're coming. >> we try to get answers for you
in the meantime. will they dropped the glove? the first and only vice-presidential debate. we have some stock plays you might want to consider before the candidates took the stage. lori: j.c. penney trying to reinvent its doors. melissa: it is that risky bet but they're taking part. we will last gig will's ceo when she joins coming up in this hour. lori: i hadn't even heard of big. learned about -- business strategy. and an update on the markets. and 30,000 less than expected. we never see an improvement like that. that is the lowest level in four years but there is one big
times. one major state did not repeat its numbers. on the stock exchange we have reaction from nicole petallides. nicole: we take these weekly jobless claims in stride. this one down 30,000 and the one state that did not report, the market seems to be looking at earnings, we had monthly jobs report last week and traders are still talking about. they don't talk about the weekly but just focusing on the monthly number and how the government and the bureau of labor statistics came to that number. a little baffling on the floor of the stock exchange. these traders are still wondering how those numbers came through. the industrial average is up 40 points after three straight days of selling and triple digit losses. yesterday was 120 points and triple digit losses and we were
down 110 points and nowhere near last friday's close of 13,000. still a weekly loss for the dow. the nasdaq and the s&p right now also with up arrows. melissa: see you again in 15 minutes. big day for commodities. tensions between syria and turkey heating up but more than that reports of a pipeline explosion sparking a rally in crude. oil cutting its gains after the latest inventory report showed larger than expected builds in supplies last week and you can see crude trading up $1. natural gas holding on to big gains, soaring as storage levels rose less than expected. look at natural gas at $3.56 the last trade hitting fresh intraday high for the year on the news just in time for that season. lori: cyberattacks continue with a new bank we are learning just
it. adam shapiro has the latest from the newsroom. these banks know they are the target yet there's nothing they can do to prevent the cyberattacks. >> there are things they can do to stay ahead. for instance region financial. some are able to get on to the site and others are having problems. strength to the statements. they did anticipate the attacks and were told they would be the target today and they are. here is what regions just issued to fox business in the last 20 minutes. a statement that says we are experiencing an internet service disruption that is intermittently impacting our customers have the ability to access our web site or use our online banking service. we're working to resolve this issue and regret any inconvenience customers may be experiencing. one problem banks to go through such as bank of america and capital one and suntrust and all the banks that have been hit by the cyberattacks is when they
stay one step ahead of the bad guys the bad guys only have to be just good enough in order to flood the system which makes it hard for legitimate clients to get in and do their online banking. we have spoken to tech experts and cybersecurity officials who say the difference in this attack and other attacks is the bad guys in this case, using web servers and not individual personal computers to launch the service attack and that is what everyone is interested in learning more about. melissa: vice president joe biden and paul ryan step into the ring tonight for the first vice-presidential debate. one topic expected to come up is medicare reform. rich edson joins us with a preview. >> both candidates for here. the vice president went ashore while ago and will do is walk through in an hour or so. paul ryan got here last night. he has done his walk through. we start this at 9:00 tonight.
when you look at the debate preparation we have some details. ted olson has played vice president joe biden, helping paul ryan prepare for this. nine different times, 90 minutes segments, they prepared for of the country. vice president joe biden has been preparing. his match has been chris van holland of the house budget committee who has sparked so much with paul ryan so they are ready to go and they are here in kentucky. listen to the pundits downplaying one vice-presidential debate is. doesn't matter that much but in this case republicans have nominated for vice president the author of what is their economic plan nationally. the house budget committee chairman has written the republican economic plan. you'll be there to defend it and medicare will be part of it. democrats salivating at the opportunity to hit him on that. paul ryan defending it. cheryl: he must be prepared for
that. interesting to watch. with medicare as a top priority tonight my next guest says that he healthcare investors on edge. joining me is brian. thank you for joining us. medicare is going to the top of mind during the debate tonight. is there a trade based on that? >> with paul ryan talking about a big shift in the medicare program we shift to a premium support plan and keeping all the rate cuts from the affordable care act and obama pushed a year ago, you will see some volatility lot of medicare providers particularly hospitals who are the most linked to the affordable care act and if any changes happens they will be the ones who will see movement. cheryl: there's a lot of volatility in hospitals that they are cheap at this point. we're looking at a chart of
where they trade. i wonder if there are any deals there. >> you hit it right on the head. we are seeing there is volatility. if mitt romney wins you will see some pressure in hospital stocks but for a more fundamental perspective if you look at the valuation, names like community health, these things are trading close to where they were before the supreme court ruled on the affordable care act in june. i could make the case that they are cheap but i also know there will be volatility between now and nov. 6. they are potentially big deals at these levels. cheryl: what about pharmacy benefit managers. they're not necessarily directly exposed to medicare. >> exactly. the trade we are pitching today is with volatility will see in the health-care provider names like express and catamaran, these are names that do not have direct medicare exposure.
they will be beneficiaries of the affordable care act with thirty million new insured lives so they are safe havens. great places to hide and even post-election they have fundamental tailwinds that will be good. cheryl: what are you avoiding? >> there are names like the home health group. names that have targets on their backs. the home milk industry is identified as an area of fraud and abuse was a lot of spending growth so congress is going after those guys no matter what and whether it is romney presidency or obama presidency will see some pressure. cheryl: is there anything unexpected coming tonight? kind of a trick question because if you are predicting it is not unexpected but what the you think the rest of the crowd may be not looking for? >> what will come out is they
will press paul ryan hard for more details on what will you do with medicaid expansion? that is obviously a key component for a lot of health care provider stocks. what will you do with these out programs? how does that work? of the medicare rate cuts, numbers being tossed out from 500 to $700 billion. that is a big number. we heard mitt romney say president obama, you're cutting the medicare program but the paul ryan plan has the same numbers. the details they squeeze out of paul ryan will be worth watching. cheryl: great stuff. fox business has live coverage starting at 8:00 eastern with our very own big cheese, neil cavuto on the scene. i asked what he thinks -- [talking over each other] he seems like he loves the big cheese and sucking up that we
do, he appreciates. have you seen shares today? they are flying. lot of speculation the takeover target reports the japanese company could buy a majority stake and we head to the nyse for sales on that. cheryl: some good news on the housing front but not everyone. red tape is bogging down certain states. we will explain ahead and look at metals as we head to break as well. take a look at the gold trading higher on the day by 0.4%. we will be right back. on the company phone list that's a few names longer.
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lori: time to check the markets with nicole petallides on the floor of the stock exchange. sprint is generating a lot of headlines and confirming it is a takeover target. what do we know? >> there's a lot going on. earlier we talked about softbank in japan looking closely at sprint and that is in talks to take a majority stake in a deal worth $12.8 billion and now sprint is confirming those discussions. we have seen sprint jumping up nearly 13%. in the meantime one story with sprint moved other names including metro pc yes which you may remember was making the deal
with deutsche telekom maybe and maybe step in and sprint putting that on hold and they are in the same business up 41% so metro p c.s. down 4% and obviously interrelated. time to make money with charles payne this hour. he is talking about a commercial banking organization that was the victim of a cyberattacks. charles: sun trust bank is situated in the mid-atlantic and southeast. this is an area where household incomes are above the national average and population growth above the national average and this is called superregional. i am afraid of these giant banks like banc of america and citigroup. it is so opaque. the change the accounting rules that these guys are pretty clear. loan provisions for losses have come down dramatically. the crash we were expecting in
commercial real estate never materialized. the only thing i didn't like is the effective tax rate going up. that should be a nonstarter but other than that consumer loans are 53% since the fourth quarter of 2009 and the stock has come on ice. you're chasing it unless you pull out the chart and see was $90. my target above 30 would be what is in the next 50 -- lori: how do you take the cyberattacks? >> it doesn't do anything unless people do start to lose money and there's a run on the banks. we all become so unaccustomed to it and even though the bad guys are one step behind it feels like these attacks haven't done much. they're like many terrorist attacks. if we make some more than they are by knee-jerk reactions as consumers and the stock -- stock market they end of being nothing. melissa: the government stepping
up on insider-trading. charlie gasparino joins us with a behind-the-scenes look at the fbi's plan of attack coming up next. lori: u.s. economic data mix. jobless claims report down 30. missing in one state but we have a weaker dollar today. closure improving. they were down and housing market showing more. back with more after this.
>> 22 minutes past the hour this is your fox news minute. security officials in yemen say a massive gunman assassinated the chief of security who worked for the embassy. they say the drive-by shooting which happened this morning may have been carried out by the al qaeda branch in yemen which has called for attacks on u.s. embassies. a third victim of a car parking garage collapsed in a miami, survived -- has died. the third victim died this morning just hours after being
pulled from the rubble. the 5 story garage was under construction when it crumbled to the ground yesterday. the cause is under investigation. and iconic coca-cola bottlers heading into the history books. the last returnable glass bottle rolled off of the production line in a plant in minnesota. the company which has been refilling bottles since 1932 says it no longer makes business sense. those are your news headlines on the fox business network. now back to melissa and laurie. melissa: what does alfred have to do with the insider-trading investigation? more than you think according to charlie gasparino's next guest. taken away. >> i will say this. mark was the first person i know who made it out clearly in the fox business network that steve
cohen was indeed a substantial target of the government's investigation. we took a little flak for that. turns out to be everybody is caught up. he is a target. let's get into the -- batman's butler. >> before there was a robin there was alfred. you have to have a confidante. look at any criminal organization. charlie: a criminal organization -- [talking over each other] >> has to have a confidante. john gotti -- you always have to look for the person you know as the trusted confidante and can give you that key. charlie: you say the fbi is doing that? >> i believe mr. steinberg is the alfred. charlie: prominent portfolio manager put on leave and has
been named which means -- >> it can mean a lot of things but it is hardly used in the justice department. you are not invited but you put a pale over that person. charlie: we think you knew what was going on? >> it is a chess game. and i indicated? is he going to get indicted? he can still be invited but he is not indicted so is not in deuce to be arrested. first in the door gets the best deal. if he was indicted there would be a lot of incentive to speak and make a deal and perhaps lead to -- now is ambiguous. what will the government do with the grand jury? he is sitting and stewing. if he acted on your behalf you are wondering what is going through his mind. curious about it. what does the government do?
charlie: you believe michael steinberg, put on leave, you believe this is a big sort of step in the fed's continuing investigation of steve cohen and his potential -- and whether he committed insider-trading? >> a massive set. look at the case all along. they have been arresting and prosecuting people and going up the chain. people i talked to in the justice department cyber is the last stop on the train. charlie: they will give up? >> they won't give up. they might get him conscience avoidance. if they can't get steinberg to get the peace to prove that, and actually had knowledge of forethought and committed it and traded on it that he knew it was wrong, perhaps conscious avoidance -- charlie: he knew --
[talking over each other] charlie: denied any wrongdoing. mr. steinberg has not been indicted and neither have been charged with a civil crime but we do know a lot of people have been charged in this investigation and you say one tactic they can take is let's go and say you should have known. that is conscience avoidance. [talking over each other] >> can you go to jail for that? >> yes. charlie: this guy called it first about steve, and being part of this investigation. this investigation is being done by the fbi and the u.s. attorney's office to is run by a guy who in many ways handed the case by the fbi which started this return to the bush years. he will never talk to me. for obvious reasons. tell me. what is his political aspiration? >> individuals i spoke to in the
department of justice and prosecutors say he has aspirations to be the attorney general. charlie: eric holder? >> if obama wins then perhaps that would be the person to take the job over. she is one of the most high-profile u.s. attorneys in the country. he is in the news -- charlie: the manhattan attorney's office is the premier white collar -- >> new york is really the battleground for the major cases in this country whether it is terrorism or white collar crime or organized crime the u.s. attorney is one of the most powerful u.s. attorneys in the country and doing a fantastic job promoting the office at himself. i would not doubt if he would be in line to be attorney general. charlie: is he using steve:to be attorney general? >> he is using every case he can get his hands on to move forward. charlie: we end right there. melissa: thanks so much.
lori: i love that from charlie. some signs the summer drought was more devastating than we initially thought and that is pushing that grain prices in a big way. what it means for you and your investment next. melissa: look at today's winners and losers as we head to break on the s&p 500. we were talking about spring nextel. announcing they are takeover target and rallying-by 12%. we will be right back.
you see the stock here on the move down over 1%. their shares have been edging lower as their quarterly earnings did miss analyst estimates despite the fact that revenue beat the street. right now ruby tuesday down 1 1/2%. they have been spending a lot of money on marketing and advertising. back to you. lori: nicole, thank you as always. 3:00 p.m. today, ruby tuesday's ceo will join liz claman on "countdown to the closing bell". this morning's usda crop report sparking a rally in grains after the report showed a drop in global grain inventories but is there still time for investors to cash in on these crops rally? here to weigh in, wade gordon, global market sector strategist at ubs. great to have you back it us. >> hi, lori. lori: in your analysis what strikes me the u.s. may run out of soybeans next year.
why is that? >> that's correct. in answer to your first question, the answer is yes, there is it still time for people to get into this rally. effectively the united states is last provider of soybeans this year. we're waiting to the mercy of the latin american producers to come to market with beans. therefore there for u.s. soybeans are in strong demand. our suspicion in we export at an average pace we'll run out of beans come april, may next year. lori: when will we know if latin america can make up the gap and save us for those dependent on our soybeans? >> the weather is basically the mercy now in a sense we have a weakening el nino pattern which tends to mean in latin america we have less rainfall than more. so what that could actually mean is the january potentially could be dry. so, we are looking at higher risks for a dry january which would be devastating for soybeans. we're sitting on the edge of
our seat until we get through to january. lori: you said there is still money to be made. when you were back on with us in august you said, you told me you were short ag equities and long ag commodities but you would switch that strategy at the end. first quarter next year. has your strategy changed? >> look, i'm still looking at the same strategy, lori. i still expect to see grain prices fall significantly by the end of next year. as a result you would expect to see margins at their worst for a lot of these protein companies over the next couple of quarters. once we get out of quarter one, they will start to be out a hedge into some better prices. that means we would expect to see an uplift in margins for these companies. we also expect to see a lift in meat prices. so u.s. consumers haven't seen the full brunt of this drought yet. we're still long the commodity. we're still short the equity. lori: the drought really is a story of the season without a doubt, wayne. it seems as if it was just much worse than anyone ever anticipated. and to your point it seems like the impact hasn't been
fully felt yet. >> no. i think the market is, the market got a bit comfortable. i think they looked at some anecdotal reports coming out of the harvest. things started looking a little better. what they didn't account for is very strong demand at these high prices. what that means we need to see ongoing high prices to ration the demand. otherwise we will simply not have enough grain to go around. lori: wayne gordon, unfortunately we have to leave it there. thanks very much for your analysis. >> nice to be with you. melissa: the housing market might be getting back on a stronger footing. foreclosures fell to the lowest levels in five years. foreclosure filings were down 7% month over month and down 16% year-over-year. that is according to firm realtytrac. lori: before you get too excited as i ws when i read the report there is not good news everywhere. divided foreclosure activity which states require a judge in the foreclosure process and those states which do
not. hard hit states like california, arizona, michigan, are nonjudicial and foreclosures there have cleared the process faster but in states like new york, florida, new jersey, ohio, illinois where is judge is required the picture is still bleak. melissa: that is always a struggle. vice president biden faces off in the first and only vice-presidential debate. what should you be watching for? we'll get lou dobbs take straight ahead. lori: look at interest rates. first we're looking at the 10-year. not a lot of change. the economic data was real mixed. no one is buying results of the initial jobless claims. 10-year at 1.69. keep in mind we had a really good 10-year auction. not the case according to analysts on 30-year. it was very weak with that yield coming in much higher than 2.88% that the 30-year is currently trading at. we're back with more after this [ male announcer ] this is joe woods' first day of work.
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whatever your business challenge, dell has the technology and services to help you solve it. >> i'm liz macdonald with your fox business brief. the stocks continue their upward trend in afternoon trading with the s&p on track to snap a four-day losing streak. congressman darrell issa tilling fox news he plans to hold hearings on the jobs data as fox business has reported that september employment data appeared to have significant differences between the household survey and establishment survey. representative issa said data collection is not as
exact science as it needs to be. korn/ferry was target after criminal data security breach and is working with law enforcement. the databases affected they say do not hold personal information like credit cards and social security numbers. that's the latest from the fox business network, giving you the power to prosper
lori: breaking news. we want to draw your attention to the markets right now. stocks are losing ground with the nasdaq falling into negative territory. the dow only up 15, 14 points right now. we're hearing government, congressman darrell issa from california with investigate job numbers. payroll numbers, household survey huge disconnect. the initial jobless claims
showed improvement of 30,000 which is unheard of especially at this point in the economic cycle where we're at. we'll keep you updated on that. melissa: ahead of tonight's critical vice-presidential debate "pew research poll" finds low marks for vice president joe biden. 51% of registered voters viewed the current vice president unfavorably compared to 39% who gave him positive reviews. voters gave paul ryan 44%, and unfavorable at 44%. that is about as even as it comes. lou dobbs is here with more on this. i think it is interesting the vice president's unfavorable numbers. i was kind of surprised by that, but you see all the gaffs but here there is certain likeability there. apparently not. >> he is affable. melissa: right. >> not reliable. melissa: that is true. >> warm friendly, evuncular.
his knowledge base is suspect. he is everyone's, well, maybe favorite uncle but he is hardly the person most people expect to be a heartbeat away from the presidency. melissa: i think that's true. >> what is clear for some time, as american public begin to focus on the debate. that's why you're seeing unfavorable numbers rise because he is to be taken seriously now and more than half the public thinks he is not a very serious fellow. lori: he has a good record dedebating though. at least that's what a lot of pundits say. we haven't heard paul ryan -- >> what is his record as vice president? lori: i'm not arguing with you there. paul ryan is very detailed. he is the math guy as melissa says. will that resonate in a debate? melissa: cfo. >> probably. i see it the other way because advantage for biden, can be charming, affable. he does understand at least
politics and government, to whatever degree one can argue, but, not being a math or quant in this case as often as congressman ryan is referred to as i think by the way mistakenly. i don't think he is that. he is running on a very fine balance between being perceived as a wonk and being perceived as john any one-note. i think that is one of the things he has to be very careful of tonight because he could easily be dismissed again because he is used much the same language for some time now on the budget, budget deficits, the national debt. i give him all the credit in the world for so doing. tonight he better have fresh language. he better be scriptive and enthusiastic about foreign policy, broad domestic vision of the governors, not his. i don't think anybody wants to hear anymore of the ryan plan. they want to hear now how he
will serve this governor as his vice president. it is not immediately clear to me that he has made that transition in the role. some of his supporters he is number two. he has got a great first act that was choreographed and led by his to be boss, governor romney and he is going to have to follow, and demonstrate that governor romney chose well. lori: we shall see. melissa: thank you, lou. you can see lou every day at this time. of course at 7:00 and 10:00 p.m. eastern tonight. catch rnc chairman reince priebus. he will join lou to discuss the vp debate. >> ought to be a hoot. he is terrific. lori: stick around after lou's show tonight. neil cavuto's fox business coverage of tonight's debate. a lot of action on the biz network. quarter to. as we do every 15 minutes. nicole is on the floor of the stocks exchanges. it is a big day for ipo
snooze as you had hear one of them open you hear a lot of clapping and joy here on the new york stock exchange. we certainly saw that with realogy that trades here at the new york stock exchange. its ipo was the third largest in the united states and so, of the year 2012. you could see here, shutter stock which is in the photography licensing business. realogy is real estate company. they have century 21 and coldwell banker. interseptember pharmaceuticals, up 25%. having a great day. back to you. lori: thank you, nicole. another wave of shocks in the works to help reinvent its stores. giggle is getting into the. the ceo is next. melissa: apollo group trading higher on the day up 3%. it we'll be right back 0t[h7
lori: something is going on today, you can't forget we're in the thick of earnings season and two big banks will report tomorrow. analysts are optimistic could jpmorgan and wells fargo results brighten gloomy forecasts. sandra smith has the story in today's trade. >> we could use that because i brought up this fall we've seen over the past several trading days and a lot of this was the reality of some gloomy reports out from major companies including dow component alcoa. alcoa came out, lowered its aluminum demand forecast. this is a sign that the global economy is still slow. it took a tumble below nine bucks a share in today's session.
it is bouncing back a little bit from that selloff. cummins came out and issued a lower 2012 forecast. these stocks really set the tone even though we only heard from a couple of companies. by the way which heard from grocery store chain safeway, today. missing their sales forecast and stock taking a 3% hit. it is actually near the lows of the session now. all eyes will be focused on the financial institutions because, guys, numbers are supposed to be good. wells fargo, jpmorgan will be reporting their numbers. a lot of analysts say how they are handling pressure from enforcement agencies. the tone of conference calls will be key. what is jamie dimon going to say. he has been very blunt on all the case. jpmorgan is up, heading into. melissa, lori, i want to point out something heading into this. the banks are cheap, their p-es. both stocks are up over 25% this year. they have a lot of momentum.
it will be really interesting tomorrow morning, guys. melissa: absolutely. lori: thank you, sandra. melissa: no understatement to say that j.c. penny turned the retail industry on its head with it new pricing strategy and store within a store concept. although it is early seems like it is working. last month comparable sales of the new shops within jcpenney are up 20% compared to elsewhere in the store. more brands are signing on to team up including children's retailer, giggle. we have the founder and ceo of giggle about. she joins us in a fox business exclusive. thanks for coming on the show. this is an exciting strategy. this is something we're seeing elsewhere too, the concept of brands that people know from outside of a department store going in places like target is sort of a similar concept. we have a lot of questions about this. what does it mean for you as a brand? giggle i know well here in new york city. it face nominal, attractive store. it is much more up scale though than jcpenney. how do you go in and hit
their price point without diminishing what your brand stands for? >> good news we have a ton of examples ahead of it us and it is all about having a channel strategy. the opportunity for us to bring the best of baby to a broader american audience. to do that and do it well for both channels it is very much its own assortment of products. everything you shop at giggle baby exclusively for jcpenney. you will only be able to find there. that will not be found in giggle stores, and also different prices. lori: why di you decide to go this business route and choose store within a store. to melissa as point, low end retailer versus exclusive high end retailing. >> it is about expansion. what is the best way to have national exposure and make your brand available to price points. what i'm exciting about with ron johnson's vision i think he is the one of the foremost innovators in the
larger footprint stores that have very different economic model and number of people coming through to take some special brands and do that with sales cost effectively. never has it been more important to have a cost effective way to reach more people that we all feel with pressure from online and economy and everything else. big footprints have a very different economic plod dell. we can bring special in smaller bite sizes more cost effectively. that's why we're so excited to be partnering with him. melissa: it is a good idea and concept that has worked for a lot of difficult brands. at the same time you're choosing a partner at a turning point. jcpenney right now is turn-around story and frankly could go either way. do you feel like you're taking a risk with them? >> i think i would feel more at risk-taking a long-term bet with our younger brand with somebody in retail that wasn't innovating right now. i think that is riskier as a category overall. so the fact that he's moving where he's moving to me it is all calculated risk because everything about
retail is changing today and i want to believe in his vision. listen as an entrepreneur you're used to having lots of critics when you're in the middle of change. melissa: yeah. >> i also take tremendous comfort as a young brand. look at the great brands we're going in company with. martha stewart, jonathan adler. melissa: that's true. lori: not too long ago, in manhattan parents were spending thousands of dollars on their baby and toddler wardrobes. it was just crazy. did you benefit from that, parents going crazy spending a lot of money for their children? >> there is always a percent of the market that does that. lori: giggle, the individual stores zero in and target man hat -- manhattan customer. >> for the urban market we really do. lori: what are people spending? >> in giggles, independent stores, only sell 10% clothes. we bring the whole nursery.
parents have done clothes for a long time at very different price point. we're complimentary to a lot of apparel players selling the rest. newserry. lori: strollers too run the gamut. we have to go. are people still spending like hundreds, more than thousands of dollars on a stroller these days. about $1,000 is not uncommon price point here in new york city. melissa: amazing. >> here in new york city. definitely not, and we have stores throughout the country in giggle i can tell you we don't sell as many of those in our chicago store. there is a new york difference and we have an assortment for the cities and for the locations we're in just like we will for jcpenney. lori: thank you so much. melissa: ali wing, thanks for coming on the show. good luck with this. >> thanks. lori: regulation nation. american bankers association chief frank keating weighs in on the election. don't miss tracy and ashley boogying their way into the studio right here on fox business. before copd...
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ashley: good afternoon, everybody, i'm ashley webster. tracy: i'm tracy byrnes. american banks losing to islamic hackers in the cyber battle. how come the banks know the attacks are coming and still not stop them? we keep asking this question. the head of cyber firm, sourcefire, weighs in ahead. ashley: that is disturbing. vice president joe biden in the blue corner. in the red corner, vp candidate paul ryan in. fox business managing editor neil cavuto live in kentucky this hour. tracy: the omega watch worn by hottie daniel craig worn in the new james bond movie sold for a quarter of a million dollars. the president is here to tell us how much 007 adds to the bottom line. ashley: that looks good.
tracy: you have to try one. ashley: bond, james bond. time for stocks now, as we do every 15 minutes. let's head down to nicole petallides at the nyse. >> that was very convincing, ashley. look at the dow, nasdaq and s&p. we've seen the nasdaq in the red over the last half hour or so. don't forget apple is one of the heavily weightedded companies. nasdaq down 2 1/2 points. those indices have down arrows. the dow squeezing out a gain here. we're virtually at a flat point for major averages after gains earlier in the day. i want to look at two names definitely on the move. that would be sprint and pcs. clearwire would be there as well. japanese bank, softbank, mobile carriers, softbank would be in advance talks to buy sprint and decided and we're seeing softbank buy
majority stake in prince. sprint confirmed they're in talks. back to you. ashley: thank you, nicole. tracy: nicole, we'll ask you who the hottest bond girl is when we come back to you. i will ask you too, hottest bond girl. ashley: all right. tracy: cyber attacks on u.s. financial sector showing no signs of stopping. regions financial confirms it is the latest victim of a cyberattack. adam shapiro has been following the story around the clock. adam, what do you got. >> first you should remember the group responsible for these attacks carry them out only roughly eight hours this would have started roughly 10:00 a.m. new york time. so roughly four hours to go. here is what reasons on is telling us. we're experiencing internet service disruption that is intermittently impacting our customers ability to access our website or use our online banking service. we are working quickly to resolve this issue and regret any inconvenience customers may be experiencing. the group claiming responsibility, regions
today, yesterday suntrust, day before, capital one, last month, bank of america and jpmorgan chase and then new york stock exchange. they are doing this for the refusal from youtube to pull from the worldwide web the film that enraged so many people in the sense of muslims. they say this is retaliation for that. the post they put up why they're doing this. money is all you respect. money is your holiness, money, money, money. money is everything to you. they will pick out targets for the next attacks. i know you talk to a cyber expert how banks stay ahead of this. this is different than other denial of service attacks which use thousands upon thousands of computers to launch an attack. this according to experts is using web servers that is making it more difficult to prevent what is happening right now at regions. back to you. tracy: adam, thanks for staying on top of this for
us. ashley: in a fresh blow to greece's economy, cocoa lal, the company's largest company is leaving crisis-wracked greece. this as they struggle to reform a budget in the face of a crippling recession. it is a tough go, no doubt about it. joining me the president of the american helenic chamber of commerce and a law partner. thanks for being here. more tough news every day. we get more tough news every day out of greece. how much of a blow is the news from coca-cola helenic? >> we have to make a distinct between the corporate and production facilities which remain in the country which is good news. ashley: okay. >> the decision of the company to do exactly this was mainly dictated by the fact there is lack of liquidity in the market today and they have to find other more efficient ways to
borrow money. ashley: we hear tax issues. keep looking for lower tax rates. lower volatility. how do you counter act those concerns when you're trying to attract companies and to the stock exchange and just investing in greece in general? >> you're toughing a very sensitive issue. the sensitive issue of the reforms because we are undergoing severe reforms in the country at this moment. among which we have to emphasize the change in the tax system that we have. it is up to now, allowed for tax evasion and other similar discrepancies the new tax system will be fair and without surprises to investors and the business community. this will be in place at the end of the year. it is good news. we're expecting much more in the context of reforms we're undergoing in greece at this moment. ashley: the news we see in greece, you know this, we
see rioters in streets and general strikes. up to 1,000 job as day lost over the past year. latest unemployment number, 25%, could go higher. when you paint that kind of picture what are you saying as a member of the chamber of commerce looking to greece and how can you attract them. >> the main issue is the reforms the government is doing at this moment. these reforms not only have to do with the tax system but flexibility in the labor market. we're talking about reforms in removing all the obstacles to entrepreneurship by simply filing procedures for startups and all similar situations. so these are issues which would we like to advocate here in the united states which is what the message we try to convey. and we have to say that the coca-cola example is coincidental one. we believe the conditions will be the right ones, then coca-cola will be back with its corporate citizens. ashley: what do you say to the analyst who is say that greece, the economy is in
such shape that it will never be able to pay back all the money it is borrowing to stay afloat? >> well it is a very big stake we have to face here. i don't share this impression. what we need is more time. we may very well face our obligations vis-a-vis our international creditors. if they allow us a little bit more time to do that. we need another two years of extension of the contractual obligations that we have undertaken. within this period we will be in a position to put our house in order and we say this from the point of view from the private sector. we don't represent the government. we are the private sector. we believe the measures which are being taken right now are the right measures for the right direction. and don't forget for a country to undertake such a huge exercise to change an entire economic model from one day to the other is a hell of an exercise. ashley: yes. >> this in fact would take ages in another country to take place.
we're doing it here and now. ashley: and it's very painful. we wish you the very best. thank you so much. >> thank you so much the pleasure is mine. thanks. ashley: thank you. tracy: wow, good stuff. coming up we go from greece to turkey. charles payne is looking out whether turkey, the country that is, is a good investment. ashley: turkey. plus the very latest on those cyber attacks that adam shapiro was just telling us about on banks. the head of network security firm sourcefire, is our special guest ahead. every day at this time let's look how oil is trading. dow up modestly by oil trading higher, $91.77 a barrel. we'll be right back.
tracy: dow is up six 1/2 points right now but time to make money with charles payne. he is talking about investing in a country, different country on emerging markets. >> amazing you had the guy on from greece. i thought it was fantastic interview. a little optimistic. kind of have to be but gave it to you straight. the neighboring country, turkey, is doing extraordinarily well. the unemployment is under
8%. the lowest it has been in years. agriculture, outside moving away from that society is under 11% for the first time ever. this is a country absolutely growing. one thing i look as far as direct investment for the country going back to 2007 levels. money for industrial projects is highest it ever been. last year was 2.9 billion. now it is almost 8 billion. this is an amazing place an amazing growth opportunity for people looking for diversification. it is the largest economy in central and eastern europe. tracy: how do you invest in it? >> oh, tur. the ishares. tur is the symbol. right now it is shading with pe under 14, about three times book. relatively cheap i think all things considered. they are making a transition and i think it will be --. ashley: the only problem i have with turkey, charles, to be honest with you, they have social programs similar to greece and france. if you pay social security
taxes for 20 years you can retire. they have a lot of 45-year-old retirees in turkey. i don't know how they will pay for it in the long run. >> they have this thing between the hard-liners and those who want more modern economy. right now looks like doing well and love the trend. ashley: very good. charles, thank you. >> thanks a lot, guys. tracy: they are supposed to have a better nightlife than we do. ashley: we need to go check that out. tracy: i think we do. ashley: look, we've all done this, right, charles? maybe not charles, but, called in sick to work when we weren't feeling well, not that bad. would you believe nearly a third of workers made phony sick calls to work in the past year? i thought it would be higher. this is according to a survey from career builder last year. nearly one in sick called out said they needed to catch up on sleep. i kind of get that. here are other reasons employees given calling out sick. well, can you believe, going on a job interview. that's smart. attending a child's event. child care crisis at home. meaning baby-sitter has also been playing hookey as well. >> when my employees call
out sick on mondays, i say i hope the interview goes well. ashley: you are so cynical. >> i am. ashley: managers doing scheduling. here is early warning, december most popular month for sick days. warn for employees, 30% employers verify sick time requiring a doctor's note and calling worker at home. 17% of emfly ears have fired workers for giving phony excuses. tracy: holiday shopping? ashley: that's it. tracy: i have italian guilt if i lie, i'm going to get some jesus hex on me. ashley: oh, my goodness. the cling of glasses in the background gives you away -- cleaning. tracy: statue is looking down. as we do every 15 minutes, check on the markets. nicole petallides on the floor of the new york stock exchange. she never calls in sick. ashley: never. >> you're right, never. let's look at safeway and
ruby tuesday, two names that came out with numb business. when you look at safeway it is coming under pressure. the third quarter results came in, earnings did beat the street but revenue came in shy of expectations. of course they face intense competition in this realm. then we'll take a look at ruby tuesdays, the casual diner. right now you see ruby tuesday up half a percent but they spent a lot of money searching for a chief executive. also the fact that they have been trying to market themselves more to increase traffic into the casual dining restaurant ruby tuesday. you have one down, one up on a day are with the markets right now, the nasdaq is back up. so all three major averages are higher. back to you. tracy: ruby tuesday's in a tough little niche market, right? ashley: yes it is. tracy: speaking of ruby tuesday's, "countdown to the closing bell" liz claman will be talking to the ceo of ruby tuesday, sandy beall that comes up at 3:00 p.m. eastern time. ashley: all right. tracy: good veggie burger i think.
anyway, jpmorgan, bank of america, suntrust, the list goes on and on and on of big american banks getting hit by hackers. why can't they stop these cyber attacks on their website? that's a great question that we need an answer. source fire ceo martin roesch will weigh in next. hopefully he can tell us. ashley: let's talk about the dollar, how is it doing? look how the currencies doing against the greenback coming of the imf said maybe countries should have more time to get their budgets in order. the pound up 1.60. we're back after this.
>> at 21 minutes past the hour i'm arthel neville with your fox news minute. a syrian plane traveling to moscow from damascus, the plane was intercepted and forced down in ankara was found to be carrying military fairy gear from a russian manufacture you arer. the cargo bass seized by turkish authorities. a third person died from a parking garage colaps at mime day college. the victim died after being
trapped in the rubble 13 hours. rescuers are looking for more victims. the rolling stones are hitting road to celebrate their 50th anniversary. richard branson is putting up $25 million to make it happen. dates are confirmed for london next month and knew washing, new jersey in december. shows at brooklyn's barclays center are being ironed out. those are the news headlines on the fox business network. back to ashley and tracy. ashley: those are some rich senior citizens, no doubt about it, arthel. thank you very much. >> we saw a come merges for the concerts the other day. my son said who is the old guy playing the guitar? how about that. regions financial is the latest bank to be hit by a sigher attack led by this radical cyber-terrorist group. it is third such attack this week. the big question, why are these banks so vulnerable to these types of attacks? we'll find out the answer to that. martin roesch, founder and
chief technology officer of cyber solution security firm, sourcefire. we went to london to get you back because you were so great last time you were here. we know these attacks are coming. how come they don't protect themselves from it? >> well, you know, they have infrastructure in place, they have tools in place that are designed to help them mitigate these attacks, to stop them. unfortunately the structure of the attacks themselves they aren't known specifically ahead of time. and that means the attacks have to go in progress before they can start bringing their tools to bear to stop them. so the very nature of the way the internet works allow these attacks to be launched. once you see what they look like you can start trying to control them. ashley: but, of any industry, the financial industry probably spends more money on internet security than any other, martin. clearly they just can't cope. so is there, you know, taking this a step further, seems to me that, we're
always playing catch up with these hackers. we're always reacting, rather than being proactive. >> well, it is a an arms race as we say and we see this happening when we see the attackers coming up with new attack methods and defenders coming up with new defenses. the defenses do evolve rapidly but the attackers, they see the defenses that are out there and defenders problem they have to protect everything and attackers only find one thing. so the bad guys do have the initiative and have it pretty consistently. tracy: last time you were here, you told ashley we were in the middle of a full-blown cyber war, right? if that is the case our government should be protecting us from the cyber war. this is only time i think there should be government intervention. how come the government hasn't come down to help the smaller banks? i get it. they can't afford to protect themselves. >> yeah i think we have to be a little circumspect about what the government
can do. once again because these attacks are taking advantage of the very nature of the internet and how web servers work and how internet traffic works it becomes very difficult to say that, you know, can the government shut these things down? well this traffic looks completely legitimate until you see what's deep inside of it. it actually gets to a point where it is doing damage before you can even mitigate it. and the government has the same tools available to it, that the private sector does in many cases for these types of attacks. and the banks do spend a lot of money on security but, what we're seeing is that even in the face of these denial of service attacks that are being launched at these banks as we progress the banks are getting more successful in protecting themselves even over the last couple weeks. we see the progression of measure and counter measure, almost spy versus spy with the attackers launching that their tools and the defenders improving. ashley: martin, we have about 30 seconds here. these types of attacks are
often used as a cover so people can get in and steal your money and personal information. are you goting a sense this latest round could be one of those? >> we haven't gotten that sense. the information that i have really shows this to be more like hack at this vism. we have attackers trying to send a message, political message, in a lot of cases and there don't seem to be follow-on attacks behind it. seems like from the information we've been getting it seems like these attacks are purely out there to wave this flag that these guys are interested in getting attention for. tracy: yeah. like a bunch of little kids. martin roesch, all the way from london. thanks for being with us. >> thanks, tracy and ashley. i appreciate it. tracy: charles payne said it earlier much to martin's point the more we talk about it the more attention they are getting for it. ashley: that's true. but they are achieving what they say they are going to achieve. that is the most aggravating thing about it. the one and only vice-presidential debate,
yep, hours away. who will win and how could it change the race for the white house? fox business managing editor neil cavuto joining us live from kentucky with a preview coming up next. tracy: that is going to be good but first let's take a look at some of the winners and losers on the s&p 500 as we head out to break. a little deal going on for sprint-nextel up 13%. fastenal, a charles payne father up 9%. -- favorite. up 9%. we'll be right back.
today. nicole: that's right. always a lot of fun to take a look at ipos and familiarize ourselves with these new initial public offerings and how these stocks are doing. let's kick it off and take a look at how they are faring. realogy, we had the ceo on earlier today, up 24%. by the way all these names are up more than 20% today. these ipos have just taken off. realogy is in the real estate type businesses. they have coldwell banker, century 21, also the third largest ipo in the united states this year. also we took a look at shutterstock, a name in the photo licensing realm based in new york city and then two bio pharma companies. you can see intercept pharmaceuticals up 27%. and kythera bio pharma is up 20%. back to you. tracy: see you soon, nicole. ashley: vice president joe biden
and representative paul ryan will take center stage tonight at the only vice presidential debate of the campaign season. the latest fox news poll showing 46% of americans have a favorable opinion of paul ryan compared to 44% for the vice president. fox news senior vice president, managing editor neil cavuto in danville kentucky with a preview of the debate tonight. it feels as if this debate takes on perhaps more importance in the normal vp debate would in the wake of the president's debate, what do you think? >> i think you are right, ashley. that debate really got concerns growing among the entire white house staff and those outside saying, you know, we have got to get this thing back on track, and so they are looking to joe biden to do it. and a lot of republicans dismiss joe biden. they say, you know, he says a lot of crazy stuff and all that, but keep in mind, talk about your -- he was elected to senate
when paul ryan was only 3 years old. having said that, before the debate, the spin room is where each side tries to let you know their guy -- essentially they say he can't walk talk chew the gum at the same time so don't expect much at the debate. after the debate, their candidate suddenly becomes so enlightened, such a gifted debater that how could you miss it? they come out here afterwards and sort of sell their stuff. we will be in this room tonight for our coverage. one of the things we noticed immediately last week when -- even before the debate was finished, about 20 minutes before, we noticed rudy giuliani already entering the room, the spin room, the spin hall, what was there because there was a side area as well, telling people that mitt romney had won hands down. and then many other republicans,
big name operatives came out, including a senator who was one of those tutoring the president, even playing the role of barack obama for that debate. what we also noticed how few democratic operatives were in that crowd not wanting to fuel any questions about what was then considered the president's lackluster performance. in a long winded way, what happens, you learn a lot in this spin room, how it's spun and how many are doing the spinning after the fact. you also learn a lot that's unique to fox business and our coverage how the foreign markets and our own future markets are responding. they had been seizing this as a good night for the republicans. i'm not saying the entire financial community is a republican crowd but by in large they espouse those positions. they were jumping during and immediately after the debate. you will be able to gauge as always market reaction and how the markets are spinning it from way outside the spin room. tracy: it is going to be fun.
ashley: it really is. neil, is it really in this case more that can be lost than gained? would a good performance by either candidate make much difference, but if someone really bombs, that could be damaging? >> i think the latter is more true. there have been some incredible vice presidential debates. probably the more memorable one was dan quail. when he said jack kennedy was a friend of mine, you're no jack kennedy. 8 out of 10 i think at the time said lloyd benson won that one. what happened three weeks later, the dukakis benson campaign went down in a landslide. generally the argument is that debates can only punctuate trends, they can't reverse that, i'm not so sure of that. but i think you are quite right, a big screw-up could, and a
big-screw-up on obama's side, you don't want to see biden screw up so bad it reinforces an image this ticket ain't the ticket. barring that, it probably won't move the needle that much. we will see. ashley: thanks so much neil. don't miss our coverage hosted by neil cavuto at 8:00 p.m. eastern. it's going to be a lot of fun. we always wait to see what mr. biden may say. tracy: we do. ashley: even though he may not mean to say it, it sometimes come out, doesn't it? tracy: there's neil's fabulous commentary after. he's the energizer bunny. i love watching him. oil closing at $92.07 a barrel. that's a gain of nearly 1% based on what's going on overseas. and coming up, regulation nation
again. jpmorgan chief jamie dimon says his banks regulation bill is going to actually cost them a billion dollars a year. american bankers association ceo governor frank keating is going to weigh in next on that. ashley: first as we do every day of this time, let's take a look at 10 and 30 year treasuries, not a whole lot going on in the ten year. the yield unchanged at 1.68%. as for the 30 year, just down a tick, down 1 basis point at 2.87%. we will be right back. ♪ [ male announcer ] this is karen anjeremiah. they don't know it yet, but they' gonna fall in love, get maied, have a couple of kids, [ children laughing ] move to e country, and live a long, happy life together where they almost never fight about money. [ dog barks ] because right after they get married, they'll find some retirement people
>> fox business brief, investors are bullish for -- [inaudible] -- to purchase an unspecified stake in the company. murphy oil is one of third point's largest position. eastman kodak is looking to get bankruptcy court approval to add retiring medical and survivor benefits at the end of the year as part of its restructuring -- to end it. wendy's is giving its iconic logo a makeover for the first time since 83 the fast-food company is going to update its logo as it continues to transform. that's the latest on fox
tracy: jpmorgan and wells fargo are kicking off bank earnings tomorrow. this comes after jpmorgan chairman dimon said these regulations are costing his company nearly a billion dollars a year. for more on this, we are joined by frank keating, ceo and president of the american bankers association. sir, i'm so glad you are with us, because there is a common theme we're hearing. these new banking regulations are costing companies money and as a result shareholders. >> well, tracy, you are absolutely right and jamie dimon frequently is controversial and certainly colorful, but he's also right. and i think policymakers and regulators should pause when you consider that a bank, a billion dollars to regulation, that's in addition to what they are already spending, that means
fewer home loans, fewer small business loans, fewer start-up loans, that's not good. -- something that's a construct from europe that will be enormously expensive, confusing, frequently contradictory, certainly difficult to fathom. the big banks probably can tread their way toward it. the smaller institutions i'm talking about regionals and community banks are very unique banking system in america, it will not be easy if not it will be impossible for them to conform and comply. this is a very worrisome series of steps. dodd frank is 9,000 pages of proposed and final rules. 100 rules not even proposed as yet orwritten as yet. basel two a very very difficult thing to swallow. it is going to cause indigestion throughout the banking community. tracy: these basel rules were created to prevent risk basically. banks have to keep a certain amount of cash in case of an
emergency. basel iii asking them to hold 4.5% of common equity, 6% of tier 1 assets, and as you said, that means that's less money that is available to go out into the system. how is that going to hurt the economy that's trying to recover right now? >> well, tracy, an example is i was at the international banking federation conference in johannesburg last week, and when we mentioned the american delegation mentioned the fact that we were facing this huge basel iii drag on our ability to lend, they said well it shouldn't apply to anybody except those who are in the international banking marketplace. so the amount of money that will not be available because of the complexity of these rules, mortgage loans, second mortgage loans, home improvement loans, banks, small banks, community banks from sea to shining sea are going to have to get out of that business, well then who is going to do it? there isn't anybody to do it. it's -- there's no reason for
this kind of burden on community banks in america, and that billion dollars figure for a big bank, that's bad. that means that big institution isn't going to be able to provide the services it has. tracy: this is something you mentioned, you don't think those rules should be based on the size of the bank, it should be based on the business. if you have international business, you follow international rules. if you are a local community bank, which you represent -- 90% of your constituents are, you should not have to follow these rules. is there any way or do you see any light at the end of the tunnel that something like this will be fixed? >> well, we've asked that the regulators, the federal reserve board in particular, and all the other regulators, not just to pause, but to stop and back up and start anew. there is simply no reason for us to -- [inaudible] -- we ought to do it for ourselves. we are a very unique banking system. tracy: governor keating, thank you for taking the time. you are right, we should look at ourselves in the mirror. we don't have to follow the crowd. >> thanks.
ashley: some sobering news here the meningitis outbreak linked to steroid has caused 12 deaths nationwide. lawmakers are calling for federal investigation hearings and possibly new legislation that could change the fda and drug regulation. we get the bottom line with elizabeth macdonald. >> a lot of action in washington, d.c. on this story. henry waxman, ed marquee and richard blumenthal are all saying we need a federal crackdown on what is going on with these pharmacies that mix and re-mix drugs behind the scenes and sell them across state lines. 55,000 pharmacies across the country, half of them do what's called compounding, recombine drugs and mix them and sell them across state lines. governor patrick of massachusetts is out saying this specialty pharmacy that is behind this meningitis outbreak was doing just that. it was operating outside of its state license. so how the we say henry waxman and other congressmen demanding congressional probes and a
hearing. and blumenthal sent a letter to fda saying there should be federal oversight because they are manufacturing and producing drugs without fda oversight. the fda only oversees the ingredients of drugs. but now this could be a fight that could head to the u.s. supreme court because the states regulate pharmacies, not the federal government, and there's something called a commerce clause that says the federal government has restrictive powers in regulating commerce inside states, so that's where the fight lies, and this is a big deal for viewers out there who may not understand that their drugstore is combining and recombining drugs and selling them without federal oversight. so this is going to be a big fight down the road. and we're going to possibly have hearings with henry waxman and his group in washington, d.c. get their way. ashley: thank you very much for that update. tracy: that is scary stuff. it is quarter till, time for stocks as we do every 15 minutes. nicole petallides down at the floor of the new york stock exchange. nicole: as we take a look at the s&p 500, which is up just 1/10 of 1% right now, there are names
hitting 52 week highs on the major average. and let's take a look at a couple of them. a couple of them actually in the managed care area, looking at both cigna and coventry health, you can see they both have up arrows. also some other names hitting new highs would be newell rubbermaid and conagra foods, some hot stocks to watch. back to you. tracy: thanks. ashley: guess what? james bond is back and adding millions of dollars in revenue to his brands. the head of one of them omega is here with 007. watch out. tracy: let's take a look at some of today's winners and losers as we watch --
tracy: two big banks reporting earnings tomorrow and analysts are bullish despite negative third quarter forecasts. could jpmorgan, wells fargo results brighten the earnings gloom? sandra smith certainly will. she's here with a preview. sandra: hey tracy. well, investors not so optimistic. if you take a look at a dow versus s&p chart over the past week, you'll see that since we got the initial reports from some of the big companies, stocks are v only been going -- have only been going down really reacting to the reality of what has been a very gloomy earnings situation. as we do see the fall continue, obviously today we're bouncing
back just a little bit. we do have some other names to look at. alcoa lowered its aluminium demand forecast. cummins issued lower 2012 forecast. those are a couple of companies that set the negative tone for earnings season. alcoa was above 9 bucks before it reported. while it is up today, still down significantly from where it was before it reported. safeway by the way the grocery store chain missed sales forecast today. that stock is down big. now, we've got the big banks that are reporting tomorrow, wells fargo, jpmorgan, tracy, i heard you mention in your last segment, jpmorgan's chief dimon, he's concerned about the regulation environment right now. however, wells fargo, jpmorgan, they are expected to have some really decent numbers when they report tomorrow. and the stocks are fairly valued. they're 10 and 11 p-e ratios, stocks up 20, 28 percent so -- 25, 28 percent so far this year. this will be one to watch. i will be live tomorrow morning breaking down all the earnings reports as they come out on the fox business network.
watch us. back to you. tracy: thank you very much. ashley: the new james bond movie is out next month. swiss luxury watch maker omega has been dressing the iconic 007 for nearly two decades now. the company's president joining us to talk about whether bond is a good investment. i would imagine -- you have been dressing james bond with his watches now since 1995. thanks for being here. >> nice to be here. ashley: brought a couple of these beautiful watches with you. so mr. bond wears these in the movie? >> yes, he will be wearing the so-called official bond watch. he says he has this watch he owns presently. ashley: two watches which is unusual. >> that's the main one, the official one. tracy: one of the ambassadors for omega, you have had
ambassadors for the past, george clooney, cindy crawford, has they pulled as much weight as daniel craig and james bond? >> i would separate daniel craig and james bond. james bond in itself is an ambassador. daniel craig brings a lot to the table as new james bond. we decided to have him on board as an ambassador in his own right. i remember meeting daniel in london. he said i would like to do something worthy, not just be a figurehead. that's why we launched the project. tonight i will be in fact with them, flying hospital, flies around the world to operate on young kids with blindness. daniel plays a big part in this. he has a double role for us. ashley: there is so much i want to ask you, but do you pay for
product placement in james bond movies? >> it is not a product placement. we have a contract. we invest a certain amount of money to promote worldwide the film during the promotional period. ten weeks before the opening and ten weeks at the end. tracy: it is genius marketing. >> it is a win-win situation. tracy: his watch just went for $250,000 at christie's. >> that's right. tracy: people come in and they say i want to be james bond. what does it to your bottom line? >> it's good because it's -- you know, when you have a consistent sale like this, it is very good on every level, not just bottom line, but image. so many people wearing the so called bond watch, it is really helping us, even filtering down to other sales. ashley: thank you for being here. president of omega. do these fire laser beams? thank you very much for being here. appreciate it. tracy: it's so cool.
they have a ton of watches. people are buying watches. >> yes. tracy: up next liz claman has not one but two exclusive ceo interviews. first up, the chairman of home depot here to talk about growth at home and abroad and react to an analyst who talks about the company. plus ceo of ruby tuesday on posting its first rise in same-store sales in nearly two years. countdown to the closing bell is next. the dow is basically flat. don't go anywhere.